The at-home global beauty devices market is booming. According to The Insight Partners, the category is predicted to grow at a CAGR of 13.7 per cent to US$80.74 billion by 2027.
Nu Skin is one of the leading players in the sector with revenues of US$2.7 billion in 2021 and was named the world’s number one at-home device system brand five years in a row by Euromonitor International.
Last year saw the Australian launch of the ageLOC LumiSpa iO, billed as the brand’s most advanced skincare device to date which offers personalised cleansing treatments through sensors and intelligent coaching.
To extend its footprint in the beauty devices market, Nu Skin has acquired BeautyBio, the US beauty device and skincare brand, through Rhyz Inc, its strategic investment arm. Created in 2018, Rhyz encompasses consumer, technology and manufacturing companies focused on innovation within the beauty, wellness and lifestyle categories.
Founder Jamie O’Banion launched BeautyBio in 2011 and it has a wide distribution, including Sephora in the US, Harrods in the UK, Mecca in Australia and online. Famed for its multi-award winning GloPRO Facial Microneedling Tool, which stimulates collagen production and promotes the absorption of skincare products, the brand also specialises in high-tech serums, moisturisers, haircare and body care. The GLOfacial Hydro-Infusion Pore Cleansing Tool is another cult favourite.
BeautyBio will continue to operate independently as an omnichannel brand, helmed by O’Banion. But the backing of Nu Skin will allow it to leverage expansion and look for increased growth opportunities.
BeautyBio’s commitment to beauty through innovation aligns with our vision for personalised, science-based skincare products and beauty device systems, noted Ryan Napierski, president and CEO of Nu Skin Enterprises. “BeautyBio’s unique device IP in hydration facial and micro-needling technology will further strengthen Nu Skin’s position as the world’s best-selling beauty device systems brand. For BeautyBio, our unique expertise in devices, manufacturing and technology will help this business reach its potential as part of the Rhyz ecosystem”.
We couldn’t be more excited to be a part of Rhyz and the Nu Skin Enterprises family, added O’Banion, president and CEO of BeautyBio. “As we look for new opportunities to empower our existing and future communities around the world in a deeper and more meaningful way, this partnership will enable us to further accelerate our mission of enhancing lives through clean, performance-based skincare solutions for a limitless, healthy future”.
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